Senior citizen selling their only home


We are senior citizens selling our only home for retirement and living with my daughter and her family. As I am depending on this liquid money I wont be buying any property. Do I have to pay Capital gain tax on sale of my only house? Thanks
 
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You need not pay capital gain tax for two years.After that you have to pay regular taxable income in line with senior citizens category

 
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Advocate

 As for as capital gain concern we can not put suggestion without ascertain  capital gain tax . What is your  property sale consideration and what is your property value when your purchases?  So better to seeking advise for a local Tax lawyer  or chartered account 

 
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